BMI View: We have lowered our forecasts for Ghana's construction industry on the back of the macroeconomic headwinds facing the country and electricity prices. These factors combined will limit the government's ability to invest in projects as well as dampening private sector investment projects. We forecast average annual real growth in the construction sector of 6.5% over our ten-year forecast period to 2024 .
While we expect the construction sector to be one of the more resilient in Ghana's current macroeconomic crisis, we do see some spill-over effects as a result of cuts in government investment and weakened investor sentiment. However, the natural resource sector should continue to attract capital, creating opportunities for construction, and we see Chinese and development funding capital in the infrastructure sector remaining buoyant.
Key Trends And D evelopments
The Ghana Ports and Harbours Authority (GPHA) and Meridian Port Services signed a 35-year concession agreement to invest USD1.5bn expansion of the Tema port in Ghana. The project will involve upgrading the port into a multi-purpose facility, which will include four container berths contained on a 1.4km quay, and developing a 16m draft and a 3.85km breakwater along the dredged port access channel. The project will also involve upgrading the highway between Accra and Tema to a six-lane modern highway, improving the movement of goods in and out of the port. APM Terminals and Bollore Africa Logistics will upgrade the highway. The first phase of the Tema port expansion project is expected to take three years to complete.
Nigeria's Sahara Group is to build a 2,000MW thermal power plant in Ghana to enhance the generation capacity of the country. Sahara is reportedly in discussions with Volta River Authority to build the plant. The company has completed the construction of Nigeria's largest thermal power facility, at Lagos.
A new seawater desalination plant in Nungua, Accra, was opened in...
The Ghana Infrastructure Report features BMI Research's market assessment and forecasts covering public procurement and spending on all major infrastructure and construction projects, including transportation and logistics by land, sea and air; power plants and utilities, and commercial construction and property development. The report analyses the impact of regulatory changes and the macroeconomic outlook and features competitive intelligence on contractors and suppliers.
BMI's Ghana Infrastructure Report provides industry professionals and strategists, sector analysts, investors, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the Ghanaian infrastructure and construction industry.
- Benchmark BMI's independent infrastructure industry forecasts for Ghana to test other views - a key input for successful budgetary and planning in the Ghanaian infrastructure market.
- Target business opportunities and risks in the Ghanaian infrastructure sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Ghana.
- Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity).
BMI Industry View
Summary of BMI’s key industry forecasts, views and trend analysis covering infrastructure and construction, regulatory changes, major investments and projects and significant national and multinational company developments. These are broken down into construction (social, commercial and residential), transport (roads, railways, ports, airports, etc), and energy & utilities (powerplants, pipelines and so on).
Industry SWOT Analysis
Analysis of the major strengths, weaknesses, opportunities and threats within the infrastructure and construction sectors and within the broader political, economic and business environment.
BMI Industry Forecasts
Historic data series (up to 2012) and forecasts to end-2024 for all key industry indicators, supported by explicit assumptions, plus analysis of key developments in the market and risks to the main forecasts. Indicators include:
Construction: Industry value (USDbn); contribution to GDP (%); total capital investment (USDbn); real growth (%).
Construction industry real growth forecasts (%) and industry value (USDbn) forecasts for industry sectors are split into Residential and Non-residential and Infrastructure sectors. Where the data is available for particular countries the infrastructure is further broken down into indicators for the transport subsectors of roads, railways, airports and ports and the energy and utilities sub-sectors of power plants and transmission grids, oil & gas pipelines and water infrastructure. This dataset is unique to the market.
The reports also include analysis of latest projects across the infrastructure sectors (transport, utilities, commercial construction).
BMI’s Infrastructure Risk Reward Index
BMI’s Risk Reward Index provides investors (construction companies, suppliers and partners) looking for opportunities in the region with a clear country-comparative assessment of a market’s risks and potential rewards. Each of the country markets are scored using a sophisticated model that includes more than 40 industry, economic and demographic data points. These provide indices of highest to lowest appeal to investors, with each position explained.
An assessment of the competitive landscape and key challenges to entering the market. Details of the largest companies active in the sector across the sub-segments of the industry, including the key financial figures from some of the largest players in the sector.
Examines the competitive positioning and short- to medium-term business strategies of key industry players. Strategy is examined within the context of BMI’s industry forecasts, our macroeconomic views and our understanding of the wider competitive landscape to generate company SWOT analyses. The latest financial and operating statistics and key company developments are also incorporated within the company profiles, enabling a full evaluation of recent company performance and future growth prospects.
The Infrastructure reports draw on an extensive network of primary sources, such as multilateral organisations, government departments, industry associations, chambers and company reports.
*Company profiles are not available for every country. Those reports instead contain information on the current activities of prominent companies operating in the market.